Market Overview

As of April 30th, the single-family dwelling inventory in the Cowichan Valley increased to 260 homes, up from 218 in March 2025

Pricing Trends

The average sale price for single-family homes in the area saw an decrease:

April – $845,292

March - $781,617

February - $829,229

Market Dynamics

Inverted Sell-to-List Ratio: The market's sell-to-list ratio is currently 47.37% (63 houses sold/133 houses listed), which is slightly weaker than in recent months.

Sale Price to List Price Ratio: Homes are selling at an average of 98.1% of their list price, a trend that has held steady in recent months.

Days on Market: Properties selling slightly faster, with the average time on market decreasing from 47 days in March to 34 days in April.

Strategic Considerations

This market environment requires careful navigation: 

For sellers, with the higher inventory, it is strongly advised to get ahead of the market and keep their pencils sharp on their house prices to be relevant.

For buyers, the increased inventory provides buyers with increased opportunities and choices – especially in the higher end of the market, which has softened. The lower end of the market continues to be a strong market segment.

The current market conditions underscore the importance of timing and informed decision-making for both buyers and sellers.

Whether you're looking to buy or sell, having a knowledgeable real estate professional by your side can provide valuable insights and guidance to help you achieve your real estate goals.

Please contact our team with any real estate-related questions; we’re here to provide you with the guidance and advice needed for this type of market.

Download the VIREB Graph Stat

ABOUT VIREB

VIREB represents over 1,100 REALTORS® in nearly 90 member offices on Vancouver Island, from the Malahat in the south to the northern tip.

VIREB cautions that average price information can be useful in establishing trends over time but does not indicate the actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

Visit our website for updated information at www.vireb.com.

HPI Note: Areas with insufficient data do not generate statistics and are not included in the HPI graphs.

At the end of April, our real estate inventory for single-family dwellings in the Cowichan Valley increased to 267 active homes compared to 209 active homes in March.

Real Estate inventory Duncan & Cowichan Valley

Our average sale price for a single-family dwelling in the Cowichan Valley in February was $827k, a slight increase from March, which was $812k.

With an increased in April’s inventory, the sell/list ratio was at 38.75% (160 listed/62 sold), a decrease from the 53.15% (111 listed/59 sold) in March.

In general, homes are selling close to list price, with the market’s sale prices averaging 98.19% of list price – consistent with results from the last few months.

Our average ‘days on the market’ was 35 in April, slightly down from 48 days in March.

With our increased mortgage rates, and the increased inventory, we are fully in a buyer’s market. Sellers are strongly advised to get ahead of the market and keep their pencils sharp on their house prices to be relevant.

Download the full VIREB April 2024 Graphstat Report

Please contact our team with any real estate-related questions; we’re here to provide you with the guidance and advice needed for this type of market.